Global businesses began 2017 positively despite looming political risks, with strong activity reported across Europe, Asia, and the United States. While concerns about protectionism and Brexit persist, economic indicators like job growth in the U.S. and steady growth in China suggest a reasonably optimistic outlook. The Bank of England revised its growth forecast upwards, contrasting with a notable slowdown in Britain's services sector and challenges faced by India's economy due to currency reforms.

1. World business
grows as it
faces
upcoming risks

2.  Global businesses started 2017 on a solid footing,
surveys showed on Friday, thriving ahead of a
myriad of political risks in the coming year.
 Fears of a growing protectionist agenda in the
United States, whether national elections across
Europe upset the status quo and just how fractious
Britain's divorce proceedings from the European
Union become, are all expected to weigh in the
months ahead.
 Yet so far those risks seem to have been mostly
ignored with firms from Asia to Europe to the
United States increasing or at least largely
maintaining activity.

3.  Euro zone businesses started 2017 by increasing
activity at the same multi-year record pace they set in
December while the U.S. non-farm payroll report
showed job growth surging more than expected in
January as construction firms and retailers ramped up
hiring.
 "Overall while this report is further evidence that the
(U.S.) labor market is buoyant the continued slow
pace of wage growth means that the (Federal
Reserve) will feel under no great pressure to step up
the pace of monetary tightening," economists at
Lloyds Bank told clients in a note.

4.  China's factory activity grew for a
seventh month and while India's
services business contracted for a third
month as firms struggled to recover
from a government crackdown on
currency in circulation, the pace
slowed.
 "The outlook for this year is reasonably
bright despite all the risks. The
numbers for January have generally
been quite positive," said Andrew
Kenning ham, chief global economist at
Capital Economics.

5.  Growth in Britain's services sector slowed for the first time in four
months in January, dipping just below its long-run average, as
businesses battled the sharpest rise in costs in more than five
years.
 But on Thursday the Bank of England sharply revised up its
growth forecast for 2017 to 2.0 percent, a view held by only the
most optimistic forecaster in a Reuters poll of 50 economists taken
last month.
 Britain's economy unexpectedly outpaced all its major peers last
year, wrong footing those who expected an immediate hit from
June's Brexit vote.
 The Markit/CIPS British services Purchasing Managers' Index
dropped to a three-month low of 54.5 last month from December's
15-month high, at the bottom end of a range of forecasts in a
Reuters poll of economists, but Markit said the PMIs still point to
first quarter growth of 0.5 percent.

6.  The Markit/CIPS British services Purchasing Managers' Index dropped to a
three-month low of 54.5 last month from December's 15-month high, at the
bottom end of a range of forecasts in a Reuters poll of economists, but
Markit said the PMIs still point to first quarter growth of 0.5 percent.
 "Despite the slightly disappointing outcome this remains a very strong
report," said James Knightley, senior economist at ING.
 IHS Markit's final composite PMI for the euro zone, seen as a good guide to
growth, held at 54.4. It has not been higher since May 2011 and has
remained above the 50 mark dividing growth from contraction since mid-
2013.
 That points to first quarter expansion of 0.4 percent, Markit said, matching
the median prediction in a Reuters poll. A similar survey from the U.S.
showed non-manufacturing growth dipped marginally last month.

7.  China's factory activity expanded for the seventh
straight month in January, giving Beijing more room to
tackle chronic imbalances in the economy. The
Caixin/Markit Manufacturing PMI fell to 51.0.
 The world's second largest economy has seen a
broad-based pickup in recent months, with fourth-
quarter GDP beating expectations due largely to a
strong housing market and higher government
spending on infrastructure projects.
 A recovery in the country's "smokestack" industries
has also been supported by government mandates to
close down outdated production capacity in the coal
and steel sectors, as well as a rebound in investment
in the property sector that came amid a record flood of
credit.

8.  India's Nikkei/IHS Markit Services PMI remained below 50
registering 48.7 in January as firms still reel from Prime
Minister Narendra Modi's decision in November to abolish
high-value bank notes.
 Modi's policy removed 86% of the currency in circulation,
hitting consumption and capital investments, and shattered
traditional cash-reliant supply chains.

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